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Optimization of methods of managerial decision-making by domestic producers in foreign economic activity

Author(s) Мусієнко С. І., , ,
Клименко Л. В., , ,
Category Economics
year 2024 issue Issue 105 part 2
pages 94-105 index UDK 65.012.4:339.9:658
DOI 10.32782/2415-8240-2024-105-2-94-105 (Link)
Abstract Optimization of the management decision-making system in the field of foreign economic activity is a complex and individual process for each national commodity producer. Considering an enterprise as a complex economic system consisting of a large number of elements and connections oriented towards profit, it is possible to identify a large number of factors that negatively and positively affect its economic processes. The methodological arsenal of the management decision-making system offers a wide range of methods and approaches that allow to justify or directly identify possible options for strategic initiatives of the company's management. Most of these methods are well described in the literature, have certain limits of application, and have known advantages and disadvantages. In the conditions of a particular enterprise, when conducting foreign economic operations, it is often necessary to apply a combination of known methods for identifying strategic alternatives, assessing the quality of options, coordinating the final choice with the owners. The efficiency of the management decision-making system directly affects the productivity of the enterprise management system and its competitiveness. For small and medium-sized businesses, simultaneous coverage and optimization of all factors of influence is impossible for technical reasons, and for economic reasons it is not rational. The article provides a graphical representation of the decision-making process and options for alternative decision-making. The proposed set of directions for optimizing the components of the management decision-making system is formed from the following components: optimization of system factors, optimization of human factors, optimization of communication factors and means of labor. Such a choice of optimization areas is recognized as optimal in terms of the possibility of rapid implementation and obtaining appropriate results. The integrated use of methods for selecting strategic alternatives and work experience, as well as the manager's intuition, makes it possible to comprehensively address the existing problem and select the best solution.
Key words optimization, efficiency, management decision-making methods, management, foreign economic activity
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